The Commonwealth of Virginia, per se, does not have a property tax. The
state has historically allowed localities to impose such, and so the tax
varies by jurisdiction. Most localities that have a personal property tax
(not all do) assess strictly by a source favorable to MG owners. Just about
every MG ever built will be assessed at around $100.00 (the bottom value, I
suspect). Even before the property tax started to be rolled back a few
years ago, I was paying about ten bucks a year on each MG in Arlington
County, which is more tax happy than most counties. I am now paying even
less than ten bucks a year (Loudoun County). Property taxes assessed at the
local level are further reimbursed to some extent by the state. For the
next few years the percentage of any taxes paid that is reimbursed by the
state is increasing, the goal being to effectively eliminate the tax all
together. I am not sure of the current status of the rollback, but I
haven't paid much in the last several years, so the matter is off my radar.
Do be careful about the jurisdiction you consider. The City of Alexandria,
for example, has used a valuation that considers the collectable value of a
vehicle. A friend of mine with a pretty tatty E-type was hit hard by this -
albeit many years ago. I would think most jurisdictions would be willing to
give you a "quote". The personal property tax was very unpopular here, and
the last governor (Gilmore) was elected on the simple promise to eliminate
it.
Cheers, Dean
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